Hong Kong Law
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HKEx Publishes Listing Decision Regarding Restrictions on Disposal After a Change in Control under Chapter 14 of the Listing Rules
HKEx published in March 2011, a listing decision (HKEx-LD7-2011) on an attempt by a Main Board issuer (“Company A”) to circumvent certain elements of the regulatory regime, set out in Chapter 14 of the Listing…
Companies Registry Implements One-Stop Electronic Incorporation and Business Registration Service
On January 21 2011 the Companies Registry (“CR”) published External Circular No. 1/2011 (“the Circular”), which discussed the coming into effect, on 21 February 2011, of Parts 2 and 5 of the Companies Amendment…
HKEx Issues New Guidance on the Requirements for the Publication of Overseas Regulatory Announcements
On 21 January 2011 the Stock Exchange of Hong Kong (the “Exchange”) published a guidance letter (the “Guidance Letter”) on the new requirements for the publication of overseas regulatory announcements under Main…
Mixed Media Offers allow Paper Application Forms with Electronic Prospectuses
The Hong Kong Stock Exchange has published materials on its website in relation to the “Mixed Media Offer” (“MMO”) framework which came into effect from 1 February 2011. A Mixed Media Offer is an offer procedure…
SFC Publishes Consultation Conclusions on the Evidential Requirements under the Securities and Futures Professional Investor Rules
The Securities and Futures Commission (“SFC”) published on 23 February 2011 Consultation Conclusions regarding proposals to refine the requirements for evidencing whether a person qualifies as a high-net-worth…
FSTB Publishes Consultation Conclusions on Statutory Backing to Price Sensitive Information Disclosure Requirements
The Financial Services and Treasury Bureau (“FSTB”) published on 11 February 2011 Consultation Conclusions (the “Conclusions”) on proposals to grant statutory backing to price sensitive information (“PSI”)…
The UKBribery Act 2010 – the Implications for Businesses Operating in Asia
The extensive jurisdictional reach of the UK Bribery Act 2010 (the “Act”), when it is finally implemented, will have significant implications for businesses operating in Asia which have a UK connection and for…
Reduction of the Minimum Shareholder Requirement for the Market Capitalisation-Revenue Test from 1000 to 300
Hong Kong Exchanges and Clearing Limited (“HKEx”) published Consultation Conclusions on 21 January 2011 regarding proposed changes to the Market Capitalisation/Revenue Test under the Listing Rules for the Main Board…
HKEx Extends Trading Hours
Hong Kong Exchanges and Clearing Limited (“HKEx”) will extend the trading hours of its securities and derivatives markets in two phases. The first phase will be effective on 7 March 2011 (“Phase 1”) and the second…
SEHK and SFC Publish Joint Consultation Paper Proposing Changes to Property Valuation Requirements
On 3 December 2010 the Securities and Futures Commission (“SFC”) and Stock Exchange of Hong Kong (“SEHK”) released a joint consultation paper (the “Consultation Paper”) outlining proposals to change the requirements…
HKEx Publishes Consultation Paper On Ex-Entitlement Trading
Hong Kong Exchanges and Clearing Limited (“HKEx”) published a consultation paper (“the Consultation Paper”) on 17 December 2010, regarding the possibility of changes to the current market practice of ex-entitlement…
HKEx Publishes Listing Decision on the Listing Eligibility of An Entity under Joint Control
The Company (“Company A”) was involved in the automobile business on the Mainland and operated via a jointly controlled entity (“JCE X”). The Listing Rules do not currently cater for JCEs and Company A could not…